Cash Cat (CASHCAT) is 2091.9× the size of Poncho (PONCHO) by market capitalisation. Their daily returns move closely together (correlation 0.68 across 34 shared trading days). CASHCAT has been the more volatile of the two, at 261% annualised against PONCHO's 157%.
PONCHOCASHCAT
0.68over 34 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | PONCHO | CASHCAT |
|---|---|---|
| Max drawdown (400d) | -77.4% | -69.6% |
| Risk-adjusted return (90d) | -0.20 | -0.03 |
Relative strength over 90 days: PONCHO outperformed CASHCAT by 32.4% — measured on the PONCHO/CASHCAT ratio, so it holds regardless of market direction.